Asked by Caroline Bachus on Apr 29, 2024
Verified
When you purchase school supplies at the book store using cash, you are using money as a medium of exchange.
Medium Of Exchange
Anything widely accepted as a tool for payment in the exchange of goods and services.
- Acquire knowledge about the purposes of money, such as serving as a unit of account, medium of exchange, and preservation of value.
Verified Answer
TW
Tasia WilsonApr 29, 2024
Final Answer :
True
Explanation :
Money serves as a medium of exchange when it is used to facilitate transactions, such as purchasing goods or services, in this case, school supplies at a bookstore.
Learning Objectives
- Acquire knowledge about the purposes of money, such as serving as a unit of account, medium of exchange, and preservation of value.